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Investments (Tables) | 12 Months Ended
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Dec. 31, 2020
Interests In Other Entities [Abstract] |
Investments in joint ventures and associates | The change in investments is as follows:
| Skookumchuck | EMG | Total
Balance, Dec. 31, 2019 | — |  | — |  | — |
Contributions(1) | 86 |  | 16 |  | 102 |
Equity income | 1 |  | — |  | 1 |
Change in foreign exchange rates | (2) |  | (1) |  | (3) |
Balance, Dec. 31, 2020 | 85 |  | 15 |  | 100 |
(1) Contributions were paid in US dollars and were US$66 million for Skookumchuck and US$12 million for EMG, including contingent consideration. Summarized financial information on the results of operations relating to the Corporation’s pro-rata interests in Skookumchuck and EMG is as follows:
Year ended Dec. 31 |  |  | 2020
Results of operations |  |  |
Revenues |  |  | 3 |
Expenses |  |  | (2) |
Proportionate share of net earnings |  |  | 1 |
On Nov. 25, 2020, TransAlta purchased a 49 per cent interest in Skookumchuck, a 136.8 MW wind facility located in Lewis and Thurston counties near Centralia in Washington state consisting of 38 Vestas 136 wind turbines. Summarized financial information relating to 100 per cent of Skookumchuck, including adjustments for the application of consistent accounting policies and the Corporation’s purchase price adjustments, is as follows:
Year ended Dec. 31 |  |  | 2020
Revenues |  |  | 6 |
Depreciation and amortization |  |  | 2 |
Interest expense |  |  | 1 |
Net earnings |  |  | 3 |
Other comprehensive loss |  |  | — |
Total comprehensive loss |  |  | 3 |
As at Dec. 31 |  |  | 2020
Current assets |  |  | 6 |
Non-current assets |  |  | 382 |
Current liabilities |  |  | (65) |
Non-current liabilities |  |  | (150) |
Net assets |  |  | 173 |
Additional items included above |  |  |
Cash and cash equivalents |  |  | 1 |
Current financial liabilities(1) |  |  | (27) |
Non-current financial liabilities(1) |  |  | (147) |
(1) Excludes trade and other payables and provisions. A reconciliation of the carrying amount to the Corporation’s 49 per cent interest in the Skookumchuck is as follows:
As at Dec. 31 |  |  | 2020
Net assets |  |  | 173 |
Less: 51 per cent of Skookumchuck net assets not owned by the Corporation |  |  | (88) |
Net investment |  |  | 85 |
Disclosure of commitments and future payments | Skookumchuck's approximate future payments under contractual commitments are as follows:
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 and thereafter | Total
Long-term service agreements(1) | 1 |  | 1 |  | 1 |  | 1 |  | 1 |  | 28 |  | 33 |
(1) Refer to Note 36 for further details on long-term service agreements. In addition to commitments disclosed elsewhere in the financial statements, the Corporation has incurred the following additional contractual commitments, either directly or through its interests in joint operations. Approximate future payments under these agreements are as follows:
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 and thereafter | Total
Natural gas, transportation and other contracts | 141 |  | 149 |  | 137 |  | 134 |  | 134 |  | 1,353 |  | 2,048 |
Transmission | 8 |  | 8 |  | 8 |  | 5 |  | 5 |  | 1 |  | 35 |
Coal supply and mining agreements | 81 |  | 105 |  | 101 |  | 67 |  | 56 |  | — |  | 410 |
Long-term service agreements | 31 |  | 37 |  | 22 |  | 18 |  | 10 |  | 55 |  | 173 |
Operating leases | 4 |  | 2 |  | 2 |  | 1 |  | 1 |  | 26 |  | 36 |
Growth | 509 |  | 411 |  | 93 |  | — |  | — |  | — |  | 1,013 |
TransAlta Energy Transition Bill | 6 |  | 6 |  | 6 |  | — |  | — |  | — |  | 18 |
Total | 780 |  | 718 |  | 369 |  | 225 |  | 206 |  | 1,435 |  | 3,733 |

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